The organisation expects to make up to 750 redundancies, predominantly across the operations and IT functions, and the ‘HR team will be impacted’, a spokesperson told Personnel Today.

The job cull is part of credit-card giant’s ongoing cost-cutting review, originally announced in June last year in the US, while the 750 posts represent about 40% of the company’s 2,000 total jobs in the UK.

“This move reflects Capital One’s focus on lowering its cost structure to continue to remain economically competitive and innovate in the UK credit-card market,” the company said in a statement.

“Capital One is committed to ensuring that any employee who leaves the business as a result of these changes will receive financial support, career transition support, retraining assistance and will be treated with dignity and respect,” it added.